The famous singer and songwriter has come a long way from his long-haired rocker days as the lead singer for Van Halen. He isn’t running around on stage in skin tight clothes anymore, and we thank him for that, but he is making beautiful music still with his business, The Cabo Wabo Company.
His company has some acquisitions, as it owns some resorts, bars and restaurants. But it also owns an increasingly popular liquor company. The Cabo Wabo Tequilla that it produces is steadily growing on popularity worldwide and has actually become the second best-selling tequila brand in the United States.
Hagar made it his business to steer away from the celebrity norm of endorsing products in favor of owning them. A true entrepreneur, he set himself up for a “Shark Tank” style buyout deal. In 2007, he sold 80% of his Cabo Wabo Company to Gruppo Campari Spirits for $100 Million dollars. He got $100 Million and still owns 20% of the company? Our hats are off to you Sammy; well done.